USD/CHF remains poised to extend losses below 0.9050 amid risk-aversion

USD/CHF continues with the downside momentum on Tuesday.
US Dollar Index remains steady at 92.00 despite softer economic data.
The Swiss franc remains in demand amid market uncertainty on its safe-haven appeal.

Rekha Chauhan Independent Analyst

USD/CHF remains muted in the Asian trading session on Tuesday. The pair hovers in a narrow trade band with no meaningful traction.

At the time of writing, USD/CHF is trading at 0.9054, up 0.01% for the day.

The US dollar index trades at 92.05, with 0.02 losses in the Asia-pacific timings. The greenback remains under selling pressure after the Fed’s less hawkish tone and the mixed economic data.

The US ISM Manufacturing Purchase Manager Index (PMI) fell to 59.5 in July, below the market forecasts of 60.9, the weakest reading in the previous six months. The labor challenge and transport inefficiencies were identified as major factors to obstacle the growth.

On the other hand, the Swiss franc gained on its mixed economic data.

The Switzerland Manufacturing PMI rose 71.1 in July from the previous 66.7 in June whereas the Retail Sales edged higher marginally 0.1% in June on a yearly basis, following a 2.8% jump in May.

As for now, traders are waiting for the US Factory Orders and Fed’s Bowman speech to gauge the market sentiment.

USD/CHF additional levels

USD/CHF

Overview
Today last price	0.9052
Today Daily Change	-0.0003
Today Daily Change %	-0.03
Today daily open	0.9055

Trends
Daily SMA20	0.9159
Daily SMA50	0.9111
Daily SMA100	0.915
Daily SMA200	0.9074

Levels
Previous Daily High	0.9074
Previous Daily Low	0.9038
Previous Weekly High	0.9202
Previous Weekly Low	0.904
Previous Monthly High	0.9274
Previous Monthly Low	0.904
Daily Fibonacci 38.2%	0.9052
Daily Fibonacci 61.8%	0.906
Daily Pivot Point S1	0.9037
Daily Pivot Point S2	0.9019
Daily Pivot Point S3	0.9
Daily Pivot Point R1	0.9074
Daily Pivot Point R2	0.9092
Daily Pivot Point R3	0.9111

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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